The CFTC is soliciting comments on Project KISS (“Keep It Simple, Stupid”), an initiative focused on simplifying rules and practices in order to make compliance less costly. As discussed previously, the CFTC is asking those who comment on Project KISS to concentrate on enhancements rather than rewrites or repeals. The request for comments was published in the Federal Register, and comments are due by September 30, 2017.
Lofchie Comment: Firms are advised to take this offer seriously, as there is no doubt that Commissioner J. Christopher Giancarlo would like to make changes that would bring down the expenses of doing business. While an invitation to rethink a larger part of the rule structure would be more alluring than a KISS, it’s only a first date.